If Oden were available for the MLE, I think the risk vs reward assessment would yield a less favorable evaluation of the wisdom of signing him compared to when the Celtics signed Jermaine O'Neal.
Agreed, for us especially now (not being real contenders).
I think the best-case scenario for Oden is a 1986 Walton-type scenario: one year or two of productive ball, probably in limited minutes, before he breaks down again and is out of the league for good. Someone else in the thread said this, I think, and it makes a lot of sense to me.
I could see teams like GS, OKC, MIA, etc. valuing that, but I don't think such a player makes us contenders.